Admin Order 44-09-09-F - Laserfiche WebLink

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ADMINISTRATIVE ORDER NO. 44-09-09-F AMENDMENT OF THE ASSESSMENT ACCOUNTS FEE SCHEDULE; REPEAL OF ADMINISTRATIVE ORDER NO. 44- 08 -07 -F; AND AMENDMENT OF ADMINISTRATIVE ORDER NO. 44-83-01. The City Manager of the City of Eugene finds that: i A. Section 2.020 of the Eugene Code, 1971, authorizes the City Manager to determine and set fees and charges to be imposed by the City for services, goods, use of municipal property, and licenses and permits. Sections 2.022 and 2.023 of that Code authorize the City Manager to establish the interest rate to be charged on sums due the City. B. At their June 22, 2009 meeting, City Council approved the formation of the Local Improvement District for Crest Drive. At that time, City staff noted that they would proceed with 'a recommendation to tie the interest rate, currently at 8% percent, more closely to the market rate that reflects what it costs the City to borrow. At the July 13, 2009 City Council work session on systems development charges, staff committed to pursue an administrative measure to establish a market -based interest rate for contracted SDC payments. C. Pursuant to the above findings, I issued Administrative Order No. 44 -09 -09 proposing to amend the Assessment Accounts Fee Schedule that was adopted by Administrative Order No. 44- 08 -07 -F, by revising the interim interest rate, the SDC interest rate, and the Equivalent Assessment interest rate from a fixed rate of 8% to the market rate that reflects the City's costs to borrow the funds. In addition, I proposed to amend Administrative Order No. 44 -83 -01 to repeal the portion of that Order that sets the interest rate on assessments payable in installments because it is in conflict with the interest rate proposed by Administrative Order No. 44- 09 -09. The current and proposed interest rates were set forth in the Notice attached as Exhibit A to Administrative Order No. 44- 09 =09. D. The Notice was published in the Register- Guard, a newspaper of general circulation within the City and posted at two locations at City Hall on December 15, 2009. Notice was also provided to the Mayor and City Council, made available to any persons who requested such notice and was made available for inspection by interested persons at the City's Finance Division, 100 W. 10 Avenue, Suite 400, Eugene, Oregon, 97401, during normal business hours. The Notice advised that comments would be received for 15 days from the date of posting and publication of the Notice. No comments were received within the time or in the manner required by the Notice. E. I find that amendment of the Assessment Account Fee Schedule is necessary in order to establish a market -based interest rate that more accurately recovers the actual cost to the City for borrowing the funds. Pursuant to section 2.020 of the Eugene Code, 1971, in determining the proposed rates I have considered applicable policies, enactments and directives of the council; the amount charged by the city in the past; the full costs of providing the service Administrative Order - Page 1 of 2